Energy consultancy Cornwall Insight said fuel demand in China has risen about 6% this year.
Last year, China was still facing Covid-19 lockdowns, which affected the country’s economy and its thirst for energy.
This meant there was less of a festival as European countries looked for an option for the Russian pipeline that was shut down when the Kremlin tried to conquer Kyiv in February 2022.
Most of the world’s fuel is transported through pipelines, but there are also ships that cool the fuel so much that it becomes liquid (liquefied herbaceous fuel) and transport it around the world.
But this year, Europe will have to compete with China’s increased demand for liquefied vegetable fuel (LNG) and could face colder weather than last year’s mild winter, which could boost demand.
“Amid expanding global competition, European LNG is facing increasing uncertainty,” said Dr. Matthew Chadwick, senior research analyst at Cornwall Insight.
“A multitude of factors, from weather situations to increased demand in Asia, expose Europe to potential fuel shortages if it bets on a winter of high temperatures and low competition. “
He called on Europeans to sign long-term contracts, rather than just buying LNG according to their needs.
“As China’s economic recovery increases fuel demand and prices rise, Europe can no longer cling to the illusion of LNG demand.
“To secure combustible materials this winter, they want to make a concerted effort to reduce their reliance on risky LNG purchases in the short term.
“It is imperative that they focus on building strong partnerships, infrastructure and securing supply chains, so that Europe can maintain its energy security while moving towards its long-term decarbonisation goals. “
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